Tsakos Energy Navigation Ltd. (NYSE:TNP) shares were down 7.2% on Friday following a dissappointing earnings announcement. The stock traded as low as $3.82 and last traded at $3.84. Approximately 973,100 shares changed hands during mid-day trading, an increase of 182% from the average daily volume of 345,081 shares. The stock had previously closed at $4.14.
The shipping company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Tsakos Energy Navigation had a net margin of 5.64% and a return on equity of 2.02%. The company had revenue of $96.92 million during the quarter, compared to analyst estimates of $101.62 million.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, December 21st will be paid a $0.05 dividend. The ex-dividend date is Wednesday, December 20th. This represents a $0.20 annualized dividend and a yield of 4.69%. Tsakos Energy Navigation’s dividend payout ratio is presently 181.82%.
Large investors have recently made changes to their positions in the company. Ameriprise Financial Inc. raised its holdings in shares of Tsakos Energy Navigation by 7.7% in the second quarter. Ameriprise Financial Inc. now owns 29,339 shares of the shipping company’s stock valued at $141,000 after buying an additional 2,104 shares during the last quarter. KCG Holdings Inc. raised its holdings in shares of Tsakos Energy Navigation by 74.6% in the first quarter. KCG Holdings Inc. now owns 31,543 shares of the shipping company’s stock valued at $151,000 after buying an additional 13,473 shares during the last quarter. Creative Planning raised its holdings in shares of Tsakos Energy Navigation by 59.1% in the second quarter. Creative Planning now owns 42,160 shares of the shipping company’s stock valued at $202,000 after buying an additional 15,660 shares during the last quarter. WFG Advisors LP raised its holdings in shares of Tsakos Energy Navigation by 0.3% in the second quarter. WFG Advisors LP now owns 51,763 shares of the shipping company’s stock valued at $248,000 after buying an additional 156 shares during the last quarter. Finally, Virtu KCG Holdings LLC raised its holdings in shares of Tsakos Energy Navigation by 65.2% in the second quarter. Virtu KCG Holdings LLC now owns 52,120 shares of the shipping company’s stock valued at $250,000 after buying an additional 20,577 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.
The company has a current ratio of 1.03, a quick ratio of 0.99 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $325.96, a price-to-earnings ratio of 34.91, a P/E/G ratio of 2.74 and a beta of 1.52.
TRADEMARK VIOLATION NOTICE: “Tsakos Energy Navigation (TNP) Stock Price Down 7.2% on Disappointing Earnings” was originally reported by Community Financial News and is owned by of Community Financial News. If you are viewing this news story on another site, it was copied illegally and republished in violation of international trademark & copyright laws. The legal version of this news story can be read at https://www.com-unik.info/2017/12/03/tsakos-energy-navigation-tnp-stock-price-down-7-2-on-disappointing-earnings.html.
About Tsakos Energy Navigation
Tsakos Energy Navigation Ltd is a provider of international seaborne crude oil and petroleum product transportation services. The Company operates through maritime transportation of liquid energy related products segment. It operates a fleet of approximately 57 modern crude oil and petroleum product tankers that provide marine transportation services for national and other independent oil companies and refiners under long, medium and short-term charters.
What are top analysts saying about Tsakos Energy Navigation Ltd.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Tsakos Energy Navigation Ltd. and related companies.